- XRP gains traction through whale support, outperforming BTC and ETH with resilience amid market turbulence.
- Ethereum’s strategic whale trading aids recovery, but XRP’s fundamentals and unique initiatives give it a competitive edge.
The cryptocurrency market faced turbulence as the Federal Reserve implemented its third interest rate cut of 2024, fueling a sell-off that dragged Bitcoin below the $100K mark. Ripple’s XRP, however, outperformed BTC. According to a recent CNF update, bullish momentum could push XRP to its $30 technical target.
Amid the chaos, XRP demonstrated resilience, supported by recent gains and strategic whale activity. Ripple’s token, currently priced at $2.30, saw consecutive 15% daily gains earlier in December, reaching levels not seen in three years.
Both XRP and ETH are now racing to surpass critical resistance levels—$3 for XRP and $4K for ETH—competing for dominance in a market defined by uncertainty. According to CoinMarketCap data, XRP is currently trading at $2.32, down 1.43% over the past day and 1.11% in the past week. See XRP price chart below.
[mcrypto id=”345586″]
Whale Strategies Favor Ethereum, but XRP Stands Out
Ethereum’s whales have consistently leveraged market dips, accumulating ETH and selling near resistance points like $4K. Recent data revealed 105K ETH sold at resistance, causing a slight price decline while showcasing ETH’s ability to rebound swiftly.
A smart whale (likely related to #LonglingCapital) bought 6,000 $ETH after the price drop.
This whale is skilled at buying $ETH at low prices and selling at highs, with a total profit of $83M.
Since May 8, 2023, this whale bought 75,400 $ETH($180.4M) at an average price of… pic.twitter.com/OK0OS9U4ou
— Lookonchain (@lookonchain) December 19, 2024
Meanwhile, XRP’s fundamentals—backed by whale interest, SEC developments, and the RLUSD stablecoin initiative—offer a unique edge. XRP’s potential to establish itself as a distinct asset class by 2025 could attract investor confidence amid Bitcoin’s ongoing volatility.
Bitcoin’s drop below $100K created opportunities for altcoins to capture market attention. While whales are accumulating BTC, retail participation remains subdued. In a related CNF news, Trump’s crypto tax proposal suggests coins like BTC, ADA, and XRP could become tax-free, potentially influencing future market dynamics.
Nevertheless, XRP and ETH stand as strong contenders, with XRP leveraging historical performance and whale support to carve out a competitive edge.
